China’s Central Bank Governor reticent on the Ant’s post IPO suspension actions

China’s Central Bank Governor, Yi Gang, has said that Ant Group will see results if the company follows the legal processes following the suspension of its initial public offering.

Beijing has signalled that it wants to strengthen its oversight, particularly of technology firms looking to expand into the financial space.

The drive has spotlighted Alibaba’s fintech affiliate, Ant Group, whose record $37 billion listing was halted by Beijing in early November, with its executives called into meetings and told to expect more regulation.

Regulatory authorities are working to strike a delicate balance in their effort to fend off risk without discouraging innovation.